How Has the Indoor Positioning And Indoor Navigation IPIN Market Size Evolved in Recent Years?
The indoor positioning and indoor navigation ipin market has seen considerable growth due to a variety of factors.
• The market for indoor positioning and indoor navigation (IPIN) has experienced rapid growth in the past few years. The market is projected to expand from $18.91 billion in 2024 to $26.77 billion in 2025, growing at a compound annual growth rate (CAGR) of 41.6%.
Factors such as growing demand for proximity marketing, heightened use of smartphones, improved internet connectivity, wider penetration of IoT, and increased usage of GPS navigation systems have contributed to the growth experienced in the past.
What Are The Predictions for The Indoor Positioning And Indoor Navigation IPIN Market in the Coming Years?
The indoor positioning and indoor navigation ipin market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for indoor positioning and indoor navigation (IPIN) is poised for explosive growth in the coming years, with forecasts projecting it will reach $109.2 billion by 2029, expanding at a compound annual growth rate (CAGR) of 42.1%.
This anticipated ascent during the forecasting period is linked to factors such as the growing adoption of IoT for indoor positioning, the increasing use of Bluetooth beacons, the exclusive use of GPS technology in outdoor environments, a rise in the commercial use of iBeacons, and the escalating demand for real-time location systems (RTLS). Key trends predicted for this period encompass the incorporation of augmented reality (AR), the ultra-wideband (UWB) technology, multi-sensor fusion, indoor mapping and digital twins, and the integration with internet of things (IoT) devices.
Which Drivers Are Accelerating Growth In The Indoor Positioning And Indoor Navigation IPIN Market?
The escalating use of smartphones is predicted to catalyze the expansion of the indoor positioning and navigation (IPIN) market. Smartphones, handheld gadgets that combine interactive communication, computing, and multimedia capabilities, normally with touchscreen technology and mobile operating systems, bolster IPIN capabilities through innate sensors like GPS, accelerometers, and gyroscopes. This empowers more precise and cost-effective indoor navigation solutions. For example, Uswitch Limited, a UK-based company for comparing costs and shifting services, reported in February 2023, that UK had about 71.8 million mobile connections, marking an increase of 3.8%, or around 2.6 million, from 2021. It is projected that the UK population will rise to 68.3 million by 2025, and 95% of them, or approximately 65 million people, will have a smartphone. Hence, the skyrocketing use of smartphones is spurring the indoor positioning and indoor navigation (IPIN) market's growth.
What Are The Core Segments Of The Global Indoor Positioning And Indoor Navigation IPIN Market?
The indoor positioning and indoor navigation (IPIN) market covered in this report is segmented –
1) By Component: Software, Hardware, Services
2) By Technology: Ultra-Wideband Technology, Bluetooth Low Energy, Wi-Fi, Other Technologies
3) By Application: Asset And Personnel Tracking, Location-Based Analytics, Navigation And Maps, Other Applications
4) By End Use Industry: Healthcare, Retail, Manufacturing, Travel And Hospitality, Office Spaces, Public Spaces, Logistics And Warehouses, Other End Use Industries
Subsegments:
1) By Software: Mapping And Visualization Software, Location Analytics Software, Navigation And Routing Software, Asset Tracking Software, Others
2) By Hardware: Beacons, Sensors, Access Points, Tags, RFID Systems, Others
3) By Services: Consulting Services, Integration And Deployment Services, Maintenance And Support Services, Managed Services, Others
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What Emerging Trends Are Influencing The Growth Of The Indoor Positioning And Indoor Navigation IPIN Market?
Key businesses in the indoor positioning and indoor navigation (IPIN) market are concentrating on the creation of innovative solutions like indoor mapping to improve location-based services. The idea behind indoor mapping solutions is to develop in-depth digital portrayals of inside spaces, thereby making navigation within buildings accurate and efficient. For example, in January 2022, HERE Technologies, a company based in Netherlands that provides location data and technology platforms, initiated a comprehensive service known as Indoor Map as a Service. This service, available via the HERE SDK, combines indoor mapping data, routing, and positioning all in one place, integrating effortlessly with the company's primary map. The goal of Indoor Map as a Service is to facilitate wayfinding, keep track of indoor assets, and maximize space usage. This service has allowed HERE to widen their offerings and supply a holistic solution for indoor mapping requirements. It serves an evolving market that employs location technologies for wayfinding, monitoring indoor assets, and optimizing space usage.
Who Are the Key Players In The Indoor Positioning And Indoor Navigation IPIN Market?
Major companies operating in the indoor positioning and indoor navigation (IPIN) market are:
• Apple Inc.
• Alphabet Inc.
• Samsung Electronics Co. Ltd.
• Microsoft Corp.
• Siemens AG
• Cisco Systems Inc.
• Qualcomm Inc.
• Broadcom Inc.
• Telefonaktiebolaget LM Ericsson
• Nokia Corporation
• STMicroelectronics N.V.
• Inpixon
• Motorola Solutions Inc.
• HERE Global B.V. (HERE Technologies)
• Navigine Corp.
• Pointr Labs Limited
• Sensewhere Limited
• Link Labs Corporation
• Oriient Labs Ltd.
• Situm Technologies SL
• SPREO
• IndoorAtlas Oy
• GiPStech Srl
• MazeMap AS
• Pinmicro K K
• Mapsted Corporation
• indoo.rs GmbH
• Insiteo SAS
• Nextome S.r.l
• Steerpath Ltd.
What Are The Regional Insights Into The Indoor Positioning And Indoor Navigation IPIN Market?
North America was the largest region in the indoor positioning and indoor navigation (IPIN) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the indoor positioning and indoor navigation (IPIN) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
